OMERS ADMINISTRATION Corp Sells 6,030 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

OMERS ADMINISTRATION Corp trimmed its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 22.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,017 shares of the asset manager's stock after selling 6,030 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in T. Rowe Price Group were worth $2,377,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Logan Capital Management Inc. lifted its holdings in shares of T. Rowe Price Group by 8.9% in the fourth quarter. Logan Capital Management Inc. now owns 6,026 shares of the asset manager's stock worth $682,000 after buying an additional 495 shares in the last quarter. Lionshead Wealth Management LLC bought a new stake in T. Rowe Price Group in the 4th quarter valued at $385,000. Jefferies Financial Group Inc. lifted its stake in T. Rowe Price Group by 94.9% in the 4th quarter. Jefferies Financial Group Inc. now owns 22,880 shares of the asset manager's stock worth $2,587,000 after purchasing an additional 11,142 shares in the last quarter. Gen Wealth Partners Inc boosted its holdings in shares of T. Rowe Price Group by 3.1% during the 4th quarter. Gen Wealth Partners Inc now owns 4,651 shares of the asset manager's stock valued at $526,000 after purchasing an additional 139 shares during the last quarter. Finally, Fiduciary Trust Co grew its position in shares of T. Rowe Price Group by 16.3% during the fourth quarter. Fiduciary Trust Co now owns 3,468 shares of the asset manager's stock valued at $392,000 after purchasing an additional 485 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. StockNews.com cut T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Sunday, February 2nd. Bank of America decreased their price target on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a research note on Thursday, April 3rd. Morgan Stanley lifted their price objective on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. reduced their target price on shares of T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Finally, TD Cowen lowered their price target on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Four investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $94.09.

T. Rowe Price Group Stock Up 0.4%

T. Rowe Price Group stock traded up $0.41 during midday trading on Friday, reaching $98.06. The stock had a trading volume of 1,493,466 shares, compared to its average volume of 1,488,587. The firm has a market cap of $21.60 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81. The company has a fifty day moving average of $90.46 and a 200 day moving average of $105.75.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the prior year, the business posted $2.38 earnings per share. The company's revenue for the quarter was up .8% on a year-over-year basis. Equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $1.27 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a yield of 5.18%. T. Rowe Price Group's payout ratio is 57.60%.

Insider Transactions at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,955 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the transaction, the director now owns 42,979 shares of the company's stock, valued at $3,935,157.24. This represents a 8.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group stock in a transaction on Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the sale, the insider now directly owns 13,611 shares of the company's stock, valued at approximately $1,319,994.78. This trade represents a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company's stock.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.